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NewsTime to give the over 50's a voice in budget debates on tax, retirement and work
Time to give the over 50's a voice in budget debates on tax, retirement and work

Time to give the over 50's a voice in budget debates on tax, retirement and work

Tags: Consumer Action Consumer Quickshot FiftyUp Club
Last updated by Chris Zinn on

As debate hots up before the Federal Budget, it’s time to gauge the views of those most affected by the hip-pocket issues being discussed – the over-50s.

The 120,000-member FiftyUp Club has today launched its second annual pre-Budget survey, asking the over-50s what they think about:

  • Pensions and superannuation
  • Negative gearing,
  • The GST and
  • Working to age 70

Consumers over 50 can now give their views HERE on big questions such as whether access to the pension should be more strict, the GST should be extended, or negative gearing should be ended.

They’ll also be asked about work experiences ahead of the inquiry into discrimination against older workers, announced this week (see Appendix).

Last year’s FiftyUp Club Budget Survey attracted more than 6,500 responses on pensions, Medicare and other issues and was presented to the federal government. The same will be done this year.

“Big decisions in these areas affect us not just now but well into the future and will impact on how we plan, save and prepare — so it’s vital we have a voice in these debates,” says FiftyUp Club guest commentator Christopher Zinn.

“As a group with age and experience, but not always money and influence, we need to let decision-makers know what we think before it’s too late.”

The FiftyUp Club has over 120,000 members and uses their buying power to negotiate special offers and lobby on their behalf. It’s free to join at FiftyUpClub.com

Click Here to take our 5-Minute Survey

 

 

APPENDIX

Recent Budget Related News

  1. ‘Stop rich from using negative gearing to offset wages, save $1b : ACOSS’, Sydney Morning Herald, 16 April 2015 by Nassim Khadem Read Here
  2. ‘How a 12 per cent GST could deliver a $100,000 earner an income-tax cut of $34 a week’, News.com.au, 1 April 2015 by John Rolfe Read Here
  3. 'Tony Abbott pledges to protect our superannuation: No changes during his term of government and beyond’, The Daily Telegraph, 16 April 2015 by Simon Benson Read Here
  4. ‘Age Discrimination: Federal Government inquiry to examine barriers older workers face in finding jobs’, ABC Online, 15 April 2015 by Nick Dole Read Here
  5. ‘Opinion: Politicians can’t be trusted to make decisions about superannuation’, Courier Mail, 15 April 2015 by Jeff Kennett Read Here
Originally posted on .

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Time to give the over 50's a voice in budget debates on tax, retirement and work

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Keith
Keith from QLD commented:

I would like to have people doing the surveys to have some input to the questions asked. When I didn't agree with the answers I put don't know which isn't true. The questions should have a wider range of answers. Perhaps some examples in the GST questions saying how much extra things would cost using an article that most people purchase every week would help. I think the government should be thanking the baby boomers for building such a great country and contributing to our aged pensions through tax for forty years plus of work. We may have a large budget deficit but that is the politicians fault for bad management and as usual the tax payer has to prop up these bad decisions. 

Pamela
Pamela from QLD commented:

I think the allowable income and allowable asset limits for part pensions should be decreased considerably. It is unbelievable that someone would be eligible for a part pension and have over 1 million worth of assets as well as their home. Same with the income a couple can earn $2877 a fortnight before they get no pension. Some workers don't get anything like that a fortnight. 

Gertraud
Gertraud from ACT commented:

I am in favour of increasing the GST to 15%, PROVIDED that it is distributed to the States where it is collected! In other words, WA MUST get the GST back dollar for dollar and not 30 cent in each dollar!!!!! 

James
James from NSW commented:

Refer to Marcelle NSW, point taken, however we enjoy a part pension and are being punished because we have a car, furniture, small UK pension and a bank deposit. The car is worth half the purchase price, furniture worth nothing, o/seas pension about half due to currency fluctuations, and the Reserve Bank don't care for us either as we have seen our interest drop from 8% to 3%. We are the people having darts targeted. We will never recover these losses. 

Gertraud
Gertraud from ACT replied to James:

I don't quite understand what your beef is when you say your car is worth "half the purchase price" and your furniture "nothing. Your asset test is based on the CURRENT value of your assets, not what you paid for them. Also, your cash savings are assessed deemed to earn 1.74% for the first $79,600 (couples) and 3.25% for the rest. If you earn 3% you are ahead of what you are deemed to earn! Your UK pension should have increased in the past few months due to the Aussie dollar having been in free-fall against other currencies. 

Roy
Roy from NSW commented:

I am worried about tax changes and low interest rates. I am self funded so changes to GST hurt and are not in my budget. 

bradley
bradley from NSW commented:

I am currently 69 years old and am still working part time only 8 hours a week which is all I can get at my age.The lower interest rates are killing me with my meagre savings and low superannuation. Polititions can retire on large pensions after only spending a short time in parliament not after all their life there entitlements should be based on there term of service 

bradley
bradley from NSW commented:

I am currently 69 years old and am still working part time only 8 hours a week which is all I can get at my age.The lower interest rates are killing me with my meagre savings and low superannuation. Polititions can retire on large pensions after only spending a short time in parliament not after all their life there entitlements should be based on there term of service 

Patricia
Patricia from NSW commented:

Let the elected Government get on and Govern and tell the Labor Party and Greens to help save Australia. Shorten is agains everything. Bet he would agree to have his wages increased though. 

Anne
Anne from QLD commented:

I totally agree with Barry from Qld, it is about time all the politicians perks were cut out completely, that they get the same as everyone else when they retire, and leave our Superannuation alone, not theirs to touch. 

MARCELLE
MARCELLE from NSW commented:

Please be mindful people that those who own a 2 million home did not purchase this home at this price it grew in time and depending on current market it is today worth that much is it their fault that they bought well when they had the income and ability to do it? This may be the only asset they have today after retiring . Do you now want to punish them for it and call them wealthy. I assure you they are not wealthy at all the home does not generate wealth as long as they continue living in it. It is different if it were an asset generating rent.in addition to their super and part pension. 

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